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Tata Sons to Sell More Than $1 Billion Worth of TCS Shares: Source

The holding company of salt-to-software Tata conglomerate is planning to sell the TCS shares for 2,872 rupees to 2,925 rupees each, CNBC TV18 reported on Monday.

Reuters

Updated:March 12, 2018, 6:55 PM IST
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Tata Sons to Sell More Than $1 Billion Worth of TCS Shares: Source
In this file photo, logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai. (Photo: Reuters/Vivek Prakash)
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Mumbai: Tata Sons, the holding company of salt-to-software Tata conglomerate, is set to sell more than $1 billion worth of shares in flagship Tata Consultancy Services in a block deal on Tuesday, a source with knowledge of the matter told Reuters.

Tata Sons owned 73.5 percent of TCS as of end-December.

It is planning to sell the TCS shares for 2,872 rupees to 2,925 rupees each, CNBC TV18 reported on Monday.

That would be a discount of 4.2 to 5.9 percent to TCS's Monday closing price of 3,052.15 rupees.
| Edited by: Bijaya Das
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